SEC Chair Gary Gensler announced his resignation effective January 2025, coinciding with Donald Trump's second term, sparking widespread celebration and mockery on Crypto Twitter. Gensler, known for his stringent regulatory stance on the crypto industry, was met with reactions ranging from relief to derision from figures like Mark Cuban, Tom Emmer, and Elon Musk. The crypto community, including critics like John Deaton and Erik Voorhees, expressed their disdain, while others humorously questioned the SEC's efficiency.
Former President Donald Trump survived an assassination attempt, leading to a surge in support from business leaders and a spike in Bitcoin prices. Meanwhile, the German government sold off its Bitcoin holdings, causing temporary market fluctuations. The Republican party embraced pro-crypto policies, while the House failed to override President Biden's veto on a bill allowing banks to hold crypto. Despite partisan divides, a bipartisan roundtable on crypto policy offered some hope for future consensus.
Bitcoin's surge to almost $64,000 has triggered a bull market delirium on Crypto Twitter, with old bull market habits and signals reemerging. The mainstream interest in Bitcoin is growing, as evidenced by the significant portion of Bitcoin in circulation being absorbed by spot Bitcoin ETFs. Additionally, Coinbase experienced a crash during the height of Bitcoin's ascent, further fueling the frenzy and excitement surrounding the bull market.
Elon Musk has hinted at a major rebrand of Twitter, with plans to change the platform's logo to an "X" and potentially rename it as well. The rebrand could also involve a shift to a black color scheme and a new website URL. While some users are supportive of Musk's vision for an "everything app," the crypto community on Twitter has expressed resistance to the proposed changes, with some calling the decision "insane." Twitter's chief, Linda Yaccarino, has provided more clues about the rebrand, mentioning features such as unlimited interactivity, support for multiple media formats, and payments and banking capabilities. The rebrand comes as Twitter's advertising revenue has reportedly dropped by 50%.
Bitcoin breaks above $29,000 after the US Federal Reserve's interest rate hike, with analysts speculating on a strong break to the upside. The SEC has decided not to include a definition of digital assets in its latest hedge fund ruling, which could be a sign of positive intent toward clearer regulation of the crypto sector. The WallStreetBets token (WSB) drops 90% in 24 hours after one of the insiders connected to the project dumps a large amount of tokens.
